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Providing For 100% Of Russian Shares In Armrusgasprom Will Stabilize

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  • Providing For 100% Of Russian Shares In Armrusgasprom Will Stabilize

    PROVIDING FOR 100% OF RUSSIAN SHARES IN ARMRUSGASPROM WILL STABILIZE GAS PRICE IN COMING FIVE YEARS: GALUST SAHAKYAN

    11:58, 24 June, 2013

    YEREVAN, JUNE 24, ARMENPRESS: Making the Gazprom's share in
    Armrusgasprom 100% will provide Armenia with the opportunity to
    keep the tariff for the natural gas unchanged during the forthcoming
    five years. This was stated by the Head of the Republican Party of
    Armenia faction at the National Assembly Galust Sahakyan at the press
    conference held on June 24.

    "We pay half the price for the gas from the Russian Federation. Russia
    is our strategic partner and we will not go the way, where Russia is
    for compromises and we are not", - said Galust Sahakyan, as reported
    by Armenpress.

    As earlier stated by the Minister of Energy and Natural Resources
    of Armenia Armen Movsisyan, at this moment the negotiations are in
    the process and no deal has been yet made in giving the 20% of the
    shares of the Government of the Republic of Armenia in Armrusgasprom
    to the Gazprom.

    The Minister of Energy and Natural Resources of the Republic of Armenia
    Armen Movsisyan and the Deputy Chairman of the Board of Directors
    and the Chairman of the Management Committee of the Gazprom OJSC
    Alexey Miller discussed the pricing issues for the Russian gas for
    the consumers of the Republic of Armenia, as well as the possibility
    to make the Gazprom's shares in the Armrusgasprom 100%.

    On March 31 2006 the Gazprom and the Government of the Republic
    of Armenia signed a 25-year agreement on the participation of the
    Gazprom in the gas and energy projects implementation, carried out
    in the territory of the Republic. In accordance with the document, it
    is intended to increase the share of the Gazprom in the Armrusgasprom
    Company by issuing additional shares.

    In the result of the issue of shares, the Gazprom's share in the
    Armrusgasprom's share capital has been increased to 80%.

    http://armenpress.am/eng/news/723676/providing-for-100-of-russian-shares-in-armrusgasprom-will-stabilize-gas-price-in-coming-five-years.html

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